Pure Nickel Social Inventory Rose 209 mt from the Previous Friday

SHANGHAI, Mar 20 (SMM) - According to the SMM research, pure nickel inventory in six regions across China stood at 6,050 mt last week, up 209 mt from the previous Friday, which was in line with market expectations. Nickel briquette inventory stood at 630 mt, down 20 mt WoW, and nickel plate inventory was 5,420 mt, up 229 mt. Last week, the downstream companies purchased on demand even though nickel prices kept falling. Nickel briquette premiums crashed last week, and the purchases were mainly made by stainless steel mills and traders for the deliveries in Wuxi market.